Disabled American Veterans 38

“Capitalization policythe taxpayer hereby adopts for book and federal income tax purposes the following policy regarding capitalization expenses for the year beginning july 1, 2018. In accordance with internal revenue code sections 167 and 168 and related regulations 1.263(a)-1(f) the taxpayer has determined that amounts whose individual cost (including tax, installation and delivery costs) does not exceed $2,500 will be deducted as incurred as an operating expense. Amounts exceeding this dollar limit will be examined individually to determine if their use or purpose requires capitalization under the betterment, adaptation or restoration rules used by the internal revenue service and will be capitalized or expensed as incurred as a result of the application of those rules.”

“Description amountsales tax discount 41”

“Description amountbank service charges 2workers comp 124licenses and permits 1,162snow removal 520office supplies 297trash removal 723payroll taxes 2,925contributions 10,014depreciation 2,954key cards 438miscellaneous 35insurance 1,249late fees and penalties 5convention expenses 488”

“Description amountrounding 1correction to beginning asset value 31”

“Category beginning of year end of yearinventory 2,357 2,357”

“Category beginning of year end of yearaccrued sales tax 351 425withheld payroll taxes 1,117 974”